Global| Oct 01 2019U.S. Light Vehicle Sales Remain Healthy
by:Tom Moeller
|in:Economy in Brief
Summary
The Autodata Corporation reported that sales of light vehicles during September improved 0.9% (-0.6% y/y) to 17.23 million units (SAAR) from 17.07 million during August. The increase left the average level of sales during Q3'19 at [...]
The Autodata Corporation reported that sales of light vehicles during September improved 0.9% (-0.6% y/y) to 17.23 million units (SAAR) from 17.07 million during August. The increase left the average level of sales during Q3'19 at 17.06 million units. That equaled Q2 but remained below the Q3'15 peak of 17.96 million units.
Sales of light truck sales rose 1.1% last month (4.0% y/y) to 12.43 million units. Purchases of domestically-made light trucks gained 1.3% (4.6% y/y) to a near-record 10.03 million units, while sales of imported light trucks improved 0.4% (1.7% y/y) to 2.40 million units. Imported truck sales have roughly doubled in the past five years.
Auto sales edged 0.2% higher (-11.0% y/y) to 4.79 million. This compares to a peak level of 7.89 million unit sales during all of 2014. Purchases of domestically-produced cars improved 2.1% (-12.2% y/y) to 3.44 million units. Sales of imported cars declined 3.6% (-8.8% y/y) to 1.35 million units.
Trucks' share of the U.S. light vehicle market increased to a record 72.1%, up from a low of 48.8% during all of 2012.
Imports' share of the U.S. vehicle market declined to 21.7%, the lowest since December. Imports' share of the passenger car market fell sharply to 28.2%. Imports share of the light truck market eased to 19.3%, but remained up from the 12.1% low in April 2014.
U.S. vehicle sales figures can be found in Haver's USECON database. Additional detail by manufacturer is in the INDUSTRY database.
| Light Weight Vehicle Sales (SAAR, Million Units) | Sep | Aug | Jul | Sep Y/Y % | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|
| Total | 17.23 | 17.07 | 16.89 | -0.6 | 17.27 | 17.23 | 17.55 |
| Autos | 4.79 | 4.78 | 4.84 | -11.0 | 5.49 | 6.32 | 7.09 |
| Domestic | 3.44 | 3.37 | 3.37 | -12.2 | 4.00 | 4.58 | 5.20 |
| Imported | 1.35 | 1.40 | 1.47 | -8.8 | 1.49 | 1.74 | 1.89 |
| Light Trucks | 12.43 | 12.29 | 12.05 | 4.0 | 11.79 | 10.90 | 10.46 |
| Domestic | 10.03 | 9.90 | 9.68 | 4.6 | 9.44 | 9.00 | 8.76 |
| Imported | 2.40 | 2.39 | 2.36 | 1.7 | 2.35 | 1.91 | 1.70 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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